Dollar mixed before US rate decision

0 Comments | AFP, June, 2008

LONDON (AFP) — The dollar fell against the euro and rose slightly versus the yen on Wednesday as the Federal Reserve appeared set to maintain the current level of US interest rates, analysts said.

Meanwhile, European Central Bank head Jean-Claude Trichet played down any suggestion of several rate rises in the eurozone, telling the European parliament he had never said that "we would envisage a series of increases."

The European single currency rose to 1.5588 dollars in morning London trade from 1.5565 dollars in New York late on Tuesday.

Against the Japanese currency, the dollar edged up to 107.87 yen from 107.83.

All eyes were on the decision over American borrowing costs due Wednesday from the Federal Open Market Committee.

"While we expect...